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Saudi Cable cuts losses by 81% y/y in Q1

Saudi Cable cuts losses by 81% y/y in Q1
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SAUDI CABLE
2110
28.78% 73.60 16.45

Riyadh – Mubasher: Saudi Cable Co. (SCC) posted SAR 8 million in net loss for the first quarter of 2015, a drop by 81% from SAR 41 million net loss logged in the corresponding period a year ago.

The cable producer earlier posted SAR 60 million net loss for Q4-14.

The improved results year-on-year and quarter-on-quarter were attributed to higher sales and profit margins, in addition to lower operating expenses.